Russia introduces excise tax on liquid steel. This is stated in the text of the Federal Law of November 29, 2021 N 382-FZ "On Amendments to Part Two of the Tax Code of the Russian Federation", which entered into force today.
The law was adopted by the State Duma on November 18, 2021 and approved by the Federation Council on November 19, 2021.
The law provides for the establishment of a standard for the transfer of excise tax to the federal budget - 83% and to the regional budgets - 17%. The purpose of the changes is to compensate for the possible formation of lost income. The initiative to introduce excise tax arose after a sharp rise in prices for metallurgical products in 2021.
The excise tax will not be levied on steel smelted primarily from scrap metal (at least 80% of the total charge weight).